Only 24h Left) Cost Accountant
2 weeks ago
Vaibhav Global Ltd (VGL) Company Overview
Listed in 1996-97 on Indian stock exchanges, Vaibhav Global Ltd (VGL) is an end-to-end electronic deep discount retailer of fashion jewelry, gemstones, and lifestyle products, operating in the US, UK, Germany, and Canada.
Shopping Experience
Today&aposs customers seek convenience, and VGL meets this demand through its proprietary 24/7 TV shopping channels (Shop LC in the US and Germany, and Shop TJC in the UK), as well as through various digital mediums including websites, mobile apps, OTT platforms, social media, and third-party marketplaces. VGL reaches almost 124 million households across the US, UK, and Germany. As digitization progresses and online retail continues to grow, VGL&aposs portfolio and omni-channel strategy will evolve accordingly.
Financials And Workforce
VGL reported a group turnover of approximately Rs. 3,041 Crore (FY 2023-2024) and employs over 3800 people globally. The companys head office and main manufacturing facility are in Jaipur, India, employing around 3000 people, including contract workers.
Acquisitions
- Mindful Souls B.V.: In FY23-24, VGL acquired Mindful Souls B.V., a Netherlands-based e-commerce company specializing in subscription-based online sales of fashion jewelry, gemstones, and lifestyle products. This acquisition is expected to leverage VGL&aposs sourcing and manufacturing strengths while enhancing digital business capabilities.
- Ideal World: VGL, through its subsidiary Shop TJC Ltd (UK), acquired the assets of Ideal World, a well-known teleshopping and digital retail brand in the UK. This acquisition includes IP rights, broadcasting rights, studio equipment, and other intangible assets.
Environmental And Social Responsibility
VGL is committed to sustainable business practices and renewable energy initiatives. The company&aposs SEZ unit in India received the Excellence Award for IGBC Performance Challenge 2021 for Green Built Environment, reflecting its dedication to environmental sustainability. VGL&aposs Your Purchase Feeds... initiative has provided 87 million meals to school children in India, the US, and the UK. The company encourages employees to donate at least two hours each month to charitable causes, tracked through its performance system. VGL is also a Great Place to Work (GPTW) certified organization.
Shop LC Overview
Shop LC, a VGL subsidiary, was established in Austin, TX in 2007 and now broadcasts live to 75 million homes in the US. The growing e-commerce presence is supported by the website Shop LC. Shop LC ships approximately 25,000 products daily to US customers and employs around 550 people in various operational roles. The US is VGLs largest market, contributing 68% to consolidated revenue.
TJC Overview
TJC, another VGL subsidiary, was established in London, UK in 2006 and broadcasts live to 25 million homes in the UK. The companys e-commerce presence is supported by the website TJC. TJC ships approximately 12,000 products daily to UK customers and employs around 220 people in London, with extended teams in India.
Shop LC Germany Overview
Launched in 2021 from Dusseldorf, Germany, Shop LC Germany TV & e-commerce is a new market with significant growth potential. The business currently reaches 27 million households and is expanding. The e-commerce site can be accessed at Shop LC Germany.
Our Purpose
Delivering joy.
Our Vision
Be the Value Leader in Electronic Retailing of Jewelry and Lifestyle Products.
Our Mission
To deliver one million meals per day to children in need by FY40 through our one-for-one meal program: your purchase feeds...
Our Core Values
- Teamwork
- Honesty
- Commitment
- Passion
- Positive Attitude
Position Overview
We are seeking an experienced Cost Accountant. The successful candidate will be responsible for analyzing and reporting financial data of Inventory, managing costs, and optimizing profitability. The ideal candidate will have a strong background in cost accounting, excellent analytical skills, and experience working in a manufacturing environment.
Key Responsibilities
- Cost Accounting:
- Analyze and report production costs, including material, labor, and overhead.
- Develop and maintain cost accounting systems, policies, and procedures.
- Financial Analysis:
- Identify areas for cost reduction and process improvement.
- Provide financial insights to support business decisions towards inventory management.
- Budgeting and Forecasting:
- Assist in preparing annual budgets and quarterly-monthly forecasts for Inventory.
- Analyze and report variances against budget and forecast.
- Manufacturing Operations Support:
- Collaborate with production teams to optimize production planning and control.
- Develop and implement cost-saving initiatives.
- Compliance and Reporting:
- Ensure compliance with accounting standards, regulatory requirements, and company policies.
- Prepare and submit reports to management and external stakeholders.
Requirements
- Professional certifications: CA/ICWA/CMA
- Minimum 2-4 years of experience in cost accounting, preferably in a manufacturing industry.
- Strong knowledge of cost accounting principles, GAAP, and financial regulations.
- Proficient in ERP systems (e.g., Microsoft dynamics) and Microsoft Office.
- Excellent analytical, problem-solving, and communication skills.
- Ability to work in a fast-paced environment and meet deadlines.
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